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Dec 26, 2012
12/12
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so blame superstorm sandy. if it is worse than everyone is predicting then perhaps you could blame the fiscal cliff. lori: i think adam might take you out for glass wine after the show. >> we could drink. tracy: we should go shop first, really good sales. >> probably line. there are good sales online. tracy: learn so much about your colleagues. love it. lori: so what happens to america's credit rating if we do go over the fiscal cliff? you will recall last year's debt ceiling debacle resulted in standard & poor's stripping the u.s. of its top rating and now fitch is warning of a possible review. joining us now to discuss this possibility and the ramification senior editor with "the national review" and former campaign manager for dick gephardt's presidential campaign. welcome to you both. ramesh i begin with you. one. topics lost in the shuffle in the fiscal cliff negotiation we're perilously close to running up against the debt ceiling again. what do you think should happen with the debt ceiling? are you reall
so blame superstorm sandy. if it is worse than everyone is predicting then perhaps you could blame the fiscal cliff. lori: i think adam might take you out for glass wine after the show. >> we could drink. tracy: we should go shop first, really good sales. >> probably line. there are good sales online. tracy: learn so much about your colleagues. love it. lori: so what happens to america's credit rating if we do go over the fiscal cliff? you will recall last year's debt ceiling...
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when we come back so i will get reaction from superstorm sandy victims on congress' inability to act. and the fiscal cliff deal area even if it was a bad one, details on the rally and what to expect for the rest of the week cong up next tonight. great to see you. have a great weekend. meanwhile as businesses plan for the rest of 2013 aristos shortage of a successful product launches 2012. and some companies could not get a right to. the biggest product flopped of last year. number five. debuting with just $100 it did not live up to the type. number for. the sony tablet with the ability to folded half. sales were worse and it is discontinued. that animated film "john carter." just about broke even on the budget. the dodge dart never good twin it is not recommended from "consumer reports". the biggest flop? apple maps the fiasco was so bad co2 and cook wrote to a public letter apologizing and fired if the guy in charge. it decided to reunite the customers with kugel maps. with congress to right? few maker -- lawmakers are fuming at all for not passing via hurricane sandy aid package. ne
when we come back so i will get reaction from superstorm sandy victims on congress' inability to act. and the fiscal cliff deal area even if it was a bad one, details on the rally and what to expect for the rest of the week cong up next tonight. great to see you. have a great weekend. meanwhile as businesses plan for the rest of 2013 aristos shortage of a successful product launches 2012. and some companies could not get a right to. the biggest product flopped of last year. number five....
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when we come back so i will get reaction from superstorm sandy victims on congress' inability to act. and the fiscal cliff deal area even if it was a bad one, details on the rally and what to expect for the rest of the week coming up next gerri: breaking news right now from new york or the state department confirming or the state department confirming secretary of state hillary clinton has been discharged from new york presbyterian columbia hospital. she left with her husband, president bill clinton and daughter chelsea. she was admitted to the hospital on sunday and received treatment for a blood clot in her head. again, secretary of state hillary clinton discharged from a new york hospital at this hour. some great news there. your 401k getting a nice boost today as markets celebrate a deal on the fiscal cliff. the dow rocketed more than 300 points. the s&p achieving the biggest one-day gain since december of 2011 come all the way back then. the nasdaq is up 3%. a record high for small stocks. scott martin, is with us now. so right here on my list of questions from one of the questio
when we come back so i will get reaction from superstorm sandy victims on congress' inability to act. and the fiscal cliff deal area even if it was a bad one, details on the rally and what to expect for the rest of the week coming up next gerri: breaking news right now from new york or the state department confirming or the state department confirming secretary of state hillary clinton has been discharged from new york presbyterian columbia hospital. she left with her husband, president bill...
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sandy. we'll bring you the comments live. tracy and ashley will take you through the next hour of "markets now". here they are [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, a legal plan attorney is available with every personalized document to answer any questions. get started at legalzoom.com today. and now you're protected. ♪ [ male announcer ] this is karen anjeremiah. they don't know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy l
sandy. we'll bring you the comments live. tracy and ashley will take you through the next hour of "markets now". here they are [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions...
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Dec 27, 2012
12/12
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sandy. >> right. adam: at the end. day are consumers pulling back? doesn't matter if it was the storm or fear they're pulling back, right. >> that was a real good point you made. mastercard said this these numbers were becoming a concern for the consumer back in october. the national retail federation had projected holiday sales would go up about 4.1%. adam: yep. >> that is some growth but it is nowhere near the 5.6% we saw lt year. there is a little bit of a slowdown. also we have to look at the consumer sentiment numbers. it is coming in at the month of december around 72 points. that is 10 points less than at its high in july. so we're definitely seeing that consumer slowdown happen even way before the fourth quarter. adam: you're with therf. you're with the national retail federation, are you not. >> no. i'm an independent analyst. adam: excuse me. a lot of people like the nrf but what are the repercussions whether for the nrf or anybody? nrf, they're sticking to it. they're not revising their pre
sandy. >> right. adam: at the end. day are consumers pulling back? doesn't matter if it was the storm or fear they're pulling back, right. >> that was a real good point you made. mastercard said this these numbers were becoming a concern for the consumer back in october. the national retail federation had projected holiday sales would go up about 4.1%. adam: yep. >> that is some growth but it is nowhere near the 5.6% we saw lt year. there is a little bit of a slowdown. also we...
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sandy and in 15 minutes republicans voting against john boehner to be house speaker. you just saw karen haas on the floor of the house calling the house into order. there was the gavel. let's bring in peter barnes who is standing by on capitol hill with all of this. here we go. peter: very exciting day, 113th conference -- congress held into session, 33 members of the house, the split is 133 republicans, 200 democrats, two vacancies. on the senate 100 senators, 55 democrats and 45 republicans. we are watching the house today because of this kind of buzz about whether or not john boehner will have any dissenting votes at a minimum order in his run for speaker because with 230 republicans he can only afford to lose 17 votes and we know that there are way more than 17 conservatives and tea party members who have been upset with the speaker's handling of negotiations with the president on the fiscal clip, on the tax bill, his handling of the vote on the hurricanes and the relief bill. we have got no other republican candidates for speaker. he will be going against the dem
sandy and in 15 minutes republicans voting against john boehner to be house speaker. you just saw karen haas on the floor of the house calling the house into order. there was the gavel. let's bring in peter barnes who is standing by on capitol hill with all of this. here we go. peter: very exciting day, 113th conference -- congress held into session, 33 members of the house, the split is 133 republicans, 200 democrats, two vacancies. on the senate 100 senators, 55 democrats and 45 republicans....
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Dec 27, 2012
12/12
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sandy for their slow response getting lights turned back on. we have seen a lot of plows going in tandem trying to work the roadways. officially possible but salt trucks have been out and about but some folks in upstate new york are used to lake effect snow but this first storm of the season, off-guard. >> you can never be prepared for this kind of stuff i don't care how long you live here, you can never be prepared for this kind of stuff. it is cold. it has got to get done. >> roadways are absolutely nasty in some places. listen to what some commuters are saying. >> a little bit slippery. you have to drive slow because you see accidents everywhere. >> the main roads were eyes. everyone was averaging 15, 20 miles an hour. >> more than 500 flights have been canceled, 1600 flights canceled yesterday. as far as airports go there running on a two hour delay at la guardia. liz: stay warm. lori: how will this affect retail sales which are coming off of the worst holiday season for years? joining me with some answers, evan gold, analytic senior vice p
sandy for their slow response getting lights turned back on. we have seen a lot of plows going in tandem trying to work the roadways. officially possible but salt trucks have been out and about but some folks in upstate new york are used to lake effect snow but this first storm of the season, off-guard. >> you can never be prepared for this kind of stuff i don't care how long you live here, you can never be prepared for this kind of stuff. it is cold. it has got to get done. >>...
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superstorm sandy destroyed 72,000 homes, but congress failed to act on the recovery bill there. the senate approved a 60 million dollar measure friday, the house did not vote on it. both republicans and democrats from the northeast especially, they're not happy with it. here is new york congressman michael grimm. >> and lost family members and now, i have to go home and tell them their new years gift they're going to wait even longer, even longer for something they should have had over a month ago. stuart: okay, fair point, but look, we've got to point out that the senate bill was loaded with pork, help for alaska's the vote was not taken on the sandy relief measure. you remember the newspaper that published the names of gun owners in new york counties? those gun owners were outraged. now, you won't believe how that newspaper is responding. that will be new at 10. and also, the top of the hour, the n.r.a. calls for armed guards in every school and now one town in new jersey, following through with its plans to put guns in schools starting today. back to nicole, we've got the dow
superstorm sandy destroyed 72,000 homes, but congress failed to act on the recovery bill there. the senate approved a 60 million dollar measure friday, the house did not vote on it. both republicans and democrats from the northeast especially, they're not happy with it. here is new york congressman michael grimm. >> and lost family members and now, i have to go home and tell them their new years gift they're going to wait even longer, even longer for something they should have had over a...
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the idea that we're sitting here over two months from superstorm sandy and it is occurring to both democrats and republicans they might get an aid bill passed? this is the kind of nonsense that has got to end, these desperate, last-minute urgent measures. oh, yes, the president wants to come back and do a little more of that. he wants to do that with immigration reform. people should by now be getting wise to and sick of obama your againsy, which really means procrastinate to the last moment, set it up so that somethings had to be done before you think, before you read, know, understand, contemplate or a have a vision of the future trying to construct at a legislature. no one has the guts in that town, republican or democrat to tell the president to go to hell. melissa: it is really painful job. talk about service to your country originally what a politician was about going to in to help serve your community. >> which one much these men or women, put this in context right now, which one of these men or women serving in the senates senate or the house of representatives has sacrificed much af
the idea that we're sitting here over two months from superstorm sandy and it is occurring to both democrats and republicans they might get an aid bill passed? this is the kind of nonsense that has got to end, these desperate, last-minute urgent measures. oh, yes, the president wants to come back and do a little more of that. he wants to do that with immigration reform. people should by now be getting wise to and sick of obama your againsy, which really means procrastinate to the last moment,...
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Dec 27, 2012
12/12
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sandy. we had to change our plans last night and stay here ritter and traveling north because the road conditions deteriorated so quickly. we still have several inches on the ground. i spoke with the council president who says she is happy the conditions are not any worse and this wasn't a major blizzard for them. >> it is a snow that hasn't been a difficult one. last year we had a budget surplus. as long as a pretty safe, we like winter sports. >> also able to stockpile assault from last your using that to solve the roadways here this year. as far as travel goes for holiday folks over the river and through the woods trying to make it home there were 1600 flight cancellations yesterday and now we are reporting over 500 today. as far as airports bill la guardia and newer car operating on a 1-hour delay. back to you. dennis: thank you. loving that hat. it is almost a quarter till. every 15 minutes stocks now, stocks are still sucking wind. nicole: we are seeing the dow not too far off of sessi
sandy. we had to change our plans last night and stay here ritter and traveling north because the road conditions deteriorated so quickly. we still have several inches on the ground. i spoke with the council president who says she is happy the conditions are not any worse and this wasn't a major blizzard for them. >> it is a snow that hasn't been a difficult one. last year we had a budget surplus. as long as a pretty safe, we like winter sports. >> also able to stockpile assault...
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Dec 26, 2012
12/12
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superstorm sandy hid the regions of the country where we saw the biggest dropoff in spending in that period between october 28th and dec. 20 fourth. there were some rebounds. shopping came back in the last part of holiday shopping season until christmas eve but it was not sufficient to get back on track to what everyone expected. dennis: thank you. with weaker than expected retail numbers we will be heading into a recession next year. shibani: jim laventhol says in many ways yes, but it won't be a disaster. welcome to the show. you heard what adam said, that the consumer which accounts for 70% of the gdp, spending, they are pulling back and pulled back this year and during holiday shopping season. how close are we to start getting into this talk of getting into recession again? >> we're pretty close by i appreciate your pudding a qualifier that we don't have to go into a panic. there are a couple reasons for that. if you look at the stock market which is mainly where people place risk bets on growing their assets it is arguably fairly priced, somewhere between 13 times and 14 times t
superstorm sandy hid the regions of the country where we saw the biggest dropoff in spending in that period between october 28th and dec. 20 fourth. there were some rebounds. shopping came back in the last part of holiday shopping season until christmas eve but it was not sufficient to get back on track to what everyone expected. dennis: thank you. with weaker than expected retail numbers we will be heading into a recession next year. shibani: jim laventhol says in many ways yes, but it won't...
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Dec 26, 2012
12/12
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expectation, even pointed out that in the northeast, in the mid alantic region because of hurricane sandy, spending was drastically lower than they would have expected so this could be a result of people being shocked by the superstorm not necessarily consumers being afraid. david: and there's also, by the way, the shooting. >> the interesting thing, too, national average for retail spending, 2, 2 1/2% growth from last year, the average nationally for the last decade or so has been about 4, 4 1/2% growth. foot traffic still remains pretty strong meaning people are coming out to the malls to mange out and possibly not spend. david: what bothers me, saying that the fiscal cliff is stopping people. you're asking people shopping less because of-- i don't know, anybody, i don't know anybody, the fiscal cliff directly stopping people from shopping. >> these surveys, keep in mind that the national retail federation is still holding with white knuckles to the prediction we'll have increased growth of spending, and 586 billion dollar seenlz. so nrs has not changed its forecast. >> shopper track ha
expectation, even pointed out that in the northeast, in the mid alantic region because of hurricane sandy, spending was drastically lower than they would have expected so this could be a result of people being shocked by the superstorm not necessarily consumers being afraid. david: and there's also, by the way, the shooting. >> the interesting thing, too, national average for retail spending, 2, 2 1/2% growth from last year, the average nationally for the last decade or so has been about...